Interview

A Vote for Bonds Over U.S. Stocks

DAVID ROSENBERG, WHO LEFT MERRILL LYNCH IN May after many years to become chief economist and strategist at asset manager Gluskin Sheff & Associates in Toronto, doesn't consider himself bearish, just realistic. The 48-year-old Ottawa native maintains that the U.S. has too much debt, and that it will take years to repair the nation's public and private balance sheets. In the meantime, he says, the economic recovery will be listless, despite the $787 billion federal stimulus package, which he likens to "patching up a...